Tds under equalisation levy

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Sai Kumar Yallasiri (Querist)
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26 April 2019 We are paying the amount for online advertisement to facebook which is non resident company. we have to deduct TDS under equalisation levy. Can you please explain the procedure for the Computation of TDS under equalisation levy?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 April 2019 6% deductable under equilisation levy and remitted to govt.
The annual payment made to one service provider exceeds Rs. 1,00,000 in one financial year then only this levy is applicable.

Sai Kumar Yallasiri

Sai Kumar Yallasiri (Querist)
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26 April 2019 Sir, we are getting getting invoice only after the payment to them.the invoice is showing the amount what we have paid. So we have to pay TDS from our pocket. Yes or No?

Sai Kumar Yallasiri

Sai Kumar Yallasiri (Querist)
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26 April 2019 Can you please tell me the due date for depositing TDS under Equalisation levy?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 April 2019 No, deduct from the payments.
The equalisation levy so deducted during any calendar month in accordance with the provisions of sub-section (1) shall be paid by every assessee to the credit of the Central Government by the seventh day of the month immediately following the said calendar month.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 April 2019 Due date of furnishing Equalisation Levy Statement (Form-1) is on or before 30th June of Financial Year ended.

Sai Kumar Yallasiri

Sai Kumar Yallasiri (Querist)
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27 April 2019 Can you please explain the procedure for depositing the TDS amounts under Equilisation levy?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 April 2019 Use TIN Web site for remittance. Choose equalisation levy challan.

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